Baiterek Holding Expands Strategic Cooperation with the European Investment Bank

On May 29, within the framework of the Astana International Forum, a Memorandum of Understanding was signed between the European Investment Bank (EIB Global) and the subsidiary of “Baiterek” National Managing Holding JSC — Kazakhstan Housing Company JSC (KHC), with the participation of Rustam Karagoishin, Chairman of the Management Board of the Holding.

The signing ceremony was attended by Altai Kuzdibaev, Chairman of the Management Board of KHC, and Kyriakos Kakouris, Vice President of the European Investment Bank.

The document aims to develop financing mechanisms for sustainable, energy-efficient, and environmentally friendly housing projects in the Republic of Kazakhstan.

In addition, under the agreements reached, EIB Global is considering the provision of up to USD 50 million in framework financing for the implementation of housing projects that meet international environmental standards. Special attention will be given to reducing building energy consumption by at least 20% and introducing innovative green technologies in construction.

“The signing of the Memorandum with the European Investment Bank opens new horizons for attracting sustainable financing. Baiterek Holding is consistently working on the implementation of the ESG agenda and the development of green infrastructure. This agreement strengthens Kazakhstan’s position as a reliable partner in sustainable growth and international cooperation,” noted the Chairman of the Holding.

The parties also discussed further cooperation with other subsidiaries of the Holding, including the Development Bank of Kazakhstan, the Damu Entrepreneurship Development Fund, and the Agrarian Credit Corporation. Currently, projects are being developed in the fields of renewable energy, SME support, and infrastructure modernization.

This cooperation is being carried out under the FELICITY II program, implemented by EIB Global in partnership with GIZ and supported by the International Climate Initiative (IKI) of the German Federal Ministry for Economic Affairs and Climate Action.